-
Hot Money Flows, Commodity Price Cycles, and Financial Repression in the U.S. and China: The consequences of Near Zero Interest Rates, (With Zhao Liu), December 2012
-
Market Preserving Fiscal Federalism: The Conditions of Money and Credit, 1994 Ohlin Lectures, Stockholm School of Economics, Updated June 2012
-
Carry Trades, Interest Differentials, and International Monetary Reform, Stanford University, April 2012
-
China and Its Dollar Exchange Rate: A Worldwide Stabilizing Influence?, (with Gunther Schnabl) January 2012
-
The Fed on the Cusp of Worldwide Inflation, January, 2011
-
Why China Shouldn't Float, December 2010
-
Beggar thy neighbor interest rate policies, November 2010
-
China in Africa: the Washington Consensus versus the Beijing Consensus, September 2010
-
Rehabilitating the Unloved Dollar Standard, April 2010
-
Zero Interest Rates and the Fall in U.S. Bank Lending (Journal of Economic Asymmetries), October 2009
-
The Global Credit Crisis and China's Exchange Rate (with Brian Lee and Yi David Wang), The Singapore Economic Review, Vol. 55, No. 2 (2010) 253–272
-
The Case for Stabilizing China's Exchange Rate: Setting the Stage for Fiscal Expansion (with Gunther Schnabl), China & World Economy, vol. 17, Jan-Feb 2009
-
U.S. Current Account Deficits and the Dollar Standard’s Sustainability:
A Monetary Approach CESifo Forum, Winter 2007, and reprinted in Helleiner and Kirshner eds. The Future of the Dollar, Cornell University Press 2009
-
Japan’s Deflationary Hangover: Wage Stagnation and
the Syndrome of the Ever-Weaker Yen
Singapore Economic Review, Vol. 52, No.3 (2007)
-
The Transfer Problem in Reducing the U.S. Current Account Deficit August 2007, Journal of Policy Modeling
-
Why China Should Keep Its Exchange Rate Pegged to the Dollar: A Historical Perspective from Japan March 2007, International Finance
-
Devaluing the dollar: A critical analysis of William Cline's case for a New Plaza Agreement (with Gunther Schnabl)
September 2006, Journal of Policy Modeling
-
China's Exchange Rate Appreciation in the Light of the Earlier Japanese Experience Fall 2006, Pacific Economic Review
-
China's Exchange Rate Trap: Japan Redux? May 2006, American Economic Review
-
The Impact of China's Appreciating Exchange Rate on Interest Rates and Wages: Japan Déjá Vu (with Gunther Schnabl) July 2006,
(earlier version in CESifo Working Papers #1720, May 2006)
-
Current Account Surpluses and Conflicted Virtue in East Asia: China and Japan under the Dollar Standard (with Gunther Schnabl) August 2006
-
The World Dollar Standard and Globalization, New Rules for the Game September 2005
-
Trapped by the International Dollar Standard June 2005, Journal of Policy Modeling
-
Optimum Currency Areas and Key Currencies: Mundell I versus Mundell II August 2004, Journal of Common Market Studies
-
China: A Stabilizing or Deflationary Influence in East Asia? The Problem of Conflicted Virture (with Gunther Schnabl), November 2003
-
The East Asian Dollar Standard, Fear of Floating, and Original Sin (with Gunther Schnabl), August 2004, Review of Development Economics
-
Synchronized Business Cycles in East Asia and
Fluctuations in the Yen/Dollar Exchange Rate (with Gunther Schnabl) The World Economy August 2003
-
Japan's Negative Risk Premium in Interest Rates: The Liquidity Trap
and Fall in Bank Lending (with Rishi Goyal) The World Economy, March 2003
-
Optimum Currency Areas and the European Experience
Economics of Transition Volume 10 (2) 2002
-
The International Dollar Standard and the Sustainability of the U.S.
Current Account Deficit March 2001 Published in Brookings Papers on Economic Activity 2001
-
After the Crisis, The East Asian Dollar Standard Resurrected: An Interpretation of High-Frequency Exchange Rate Pegging August 2000; Published in J. Stiglitz and S. Yusuf eds. Rethinking the East Asian Miracle, World Bank and Oxford University Press. May 2001
-
The Foreign Exchange Origins of Japan's Economic Slump and Low Interest Liquidity Trap (with Kenichi Ohno) June 2000;Published in The World Economy 24(3)
-
Exchange-Rate Regimes for Emerging Markets: Moral Hazard and International
Overborrowing (with Huw Pill) Autumn 1999; Published in Oxford Review of Economic Policy 15(3)
-
Euroland and East Asia in a Dollar-Based International Monetary System: Mundell Revisited August 1999; Published in Festschrift in Honor of R.A. Mundell, G. Calvo, R.
Dornbusch, and M. Obstfeld, eds. MIT Press. 2001
-
The East Asian Dollar Standard, Life After Death? July 1999; Published in Economic Notes 29(1)